CONTRACT Q& A- CHAPTER 1

1. What are 5 steps in negotiating delivery?

2. Why is location important?

3. Why is transportation important?
4. What are modes of transportation?
5. Where is the risk often passed from the exporter to the importer?
6. Where does transfer of ownership take place?
7. How many kinds of delay in delivery?
8. What events does delivery date trigger?
9. How to fix delivery date?
10.When is a contract binding?
11.. When is a contract binding and effective?

12. How does the date of coming into effect the delivery date?

13. What is excused delay?

14. What are the 3 outcomes of FM?

15. What are liquidated damages?

16. What are penalties?

17. Explain the differences between liquidated damages and penalties

18. Name types of Insurance policy?

19. What are main functions of ocean BL?

20. What are requirement of BL when payment is made by LC?